Finance Minister Backs the Launch of New Auto Policy

Federal Minister for Finance and Revenue, Mr. Shaukat Tarin, chaired a meeting here at the Finance Division to review and finalize the new Auto-Policy. The Finance Minister assured of his full support for the final launch of the New-Auto Policy while chairing a meeting to review and finalize it. The Minister for Industries and Production briefed the meeting that the aim to introduce a new policy is to provide affordable small cars (850 cc-1000 cc), promote localization in domestically assembled cars, produce an exportable surplus of auto-parts of 2-3 wheelers and increase the competition in the local market so that people in Pakistan could enjoy better technology at affordable prices. The Minister for Industries also discussed various concessions that could be offered to the Electric Vehicles to increase the number of vehicles imported and install the related infrastructure in Pakistan. ALSO READ Honda and Toyota Suffer as Car Sales Witness a Huge Drop Other pending issues like the payment of ACD by the Auto-sector to the Government also came under discussion. The Industry representatives agreed to resolve the issue amicably for its final settlement. Federal Minister for Industries and Production Makhdum Khusro Bakhtyar, Adviser to PM on Commerce Abdul Razak Dawood and SAPM on Finance and Revenue Dr. Waqar Masood also participated in the meeting along with Senior Officials from Industries and Production, Commerce and FBR.